Which statement below is FALSE? A. A monopoly faces a downward-sloping demand curve for the good that it sells.
B. A single-price monopoly cannot sell further units of the good without cutting the price.
C. Total revenue is maximized where marginal revenue is zero.
D. In the short run, a single-price monopoly maximizes profit where average cost equals average revenue.
E. In the long run, a single-price monopoly seeking to maximize profit would exit the industry if average total cost were to exceed price.